Thank you all for this insightful discussion and for sharing your expertise!
I'm here to seek advice and information on investment options and concerns with TIAA. Your guidance will be greatly appreciated.
As an academic who retired in 2022 at 66 due to family needs arising from the COVID-19 Pandemic, I'm still learning the ropes of blogging. I appreciate your understanding and patience with my writing style.
Please excuse my lack of blogging capacity—I have never posted before and have only read the Bogleheads blog. I'm still learning the ropes, but I have been a long-term investor with Vanguard for years – thank God!
My wife and I are at a critical juncture where we must start withdrawing funds to cover our living expenses. However, our confidence in TIAA, where we hold all of my non-Roth qualified funds—40% in a set of RAs and 60% in GSRA/SRA, all in TIAA traditional fixed, is shaken. We are deeply troubled by TIAA's lack of transparency and general mismanagement of their Traditional RA, GRA, and SGRA crediting rates. Despite my repeated inquiries, TIAA representatives have not provided a satisfactory explanation for the fluctuation of rates of a specific vintage over time.
Equally concerning is the need for more clarity if one considers annuitization or questions of how the loyalty bonus is calculated and how additional crediting rates are determined. When considering the interest-only or systematic payment options, what factors and decisions by TIAA lead to a decrease in vintage rates? For instance, the rates in my GSRA base rate decreased from 6.00% to 5.75% between Dec 2023 and Feb 2024. I fear they will drop even further soon.
It seems, and (PLEASE CORRECT ME IF I AM WRONG) that holding funds at TIAA (NOW A FOR-PROFIT financial corporation), which I started having as my retirement account in 1986, requires that the one-time participant in the non-profit institution TIAA-CREF TRUST that the now-for-profit corporation TIAA will honour the non-transparent loyalty bonuses and the alleged additional bonus crediting rates.
Thus, I am seeking advice on the best investment options if the recommendation is to transfer to a Vanguard IRA. Should I consider a 50% Wellington / 50% Wellesley 2 Fund retirement portfolio, a TDR like a 2025 TDR, or something else?
By the way, on the subject of TIAA, You may have seen the NBC article on TIAA Traditional.
https://www.nbcnews.com/investigations/ ... rcna161198
or the NYTs articles on TIAA, such as https://www.nytimes.com/2021/07/13/busi ... =url-share
And
https://www.nytimes.com/2017/10/21/busi ... =url-share
And
https://www.nytimes.com/2017/11/13/your ... =url-share
Any insight would be greatly appreciated.
Thank you very much for generously sharing your time and expertise. I understand how valuable your time is, and I truly appreciate you spending it to help me. Your insights are invaluable, and I look forward to learning from them.
THANKS
I'm here to seek advice and information on investment options and concerns with TIAA. Your guidance will be greatly appreciated.
As an academic who retired in 2022 at 66 due to family needs arising from the COVID-19 Pandemic, I'm still learning the ropes of blogging. I appreciate your understanding and patience with my writing style.
Please excuse my lack of blogging capacity—I have never posted before and have only read the Bogleheads blog. I'm still learning the ropes, but I have been a long-term investor with Vanguard for years – thank God!
My wife and I are at a critical juncture where we must start withdrawing funds to cover our living expenses. However, our confidence in TIAA, where we hold all of my non-Roth qualified funds—40% in a set of RAs and 60% in GSRA/SRA, all in TIAA traditional fixed, is shaken. We are deeply troubled by TIAA's lack of transparency and general mismanagement of their Traditional RA, GRA, and SGRA crediting rates. Despite my repeated inquiries, TIAA representatives have not provided a satisfactory explanation for the fluctuation of rates of a specific vintage over time.
Equally concerning is the need for more clarity if one considers annuitization or questions of how the loyalty bonus is calculated and how additional crediting rates are determined. When considering the interest-only or systematic payment options, what factors and decisions by TIAA lead to a decrease in vintage rates? For instance, the rates in my GSRA base rate decreased from 6.00% to 5.75% between Dec 2023 and Feb 2024. I fear they will drop even further soon.
It seems, and (PLEASE CORRECT ME IF I AM WRONG) that holding funds at TIAA (NOW A FOR-PROFIT financial corporation), which I started having as my retirement account in 1986, requires that the one-time participant in the non-profit institution TIAA-CREF TRUST that the now-for-profit corporation TIAA will honour the non-transparent loyalty bonuses and the alleged additional bonus crediting rates.
Thus, I am seeking advice on the best investment options if the recommendation is to transfer to a Vanguard IRA. Should I consider a 50% Wellington / 50% Wellesley 2 Fund retirement portfolio, a TDR like a 2025 TDR, or something else?
By the way, on the subject of TIAA, You may have seen the NBC article on TIAA Traditional.
https://www.nbcnews.com/investigations/ ... rcna161198
or the NYTs articles on TIAA, such as https://www.nytimes.com/2021/07/13/busi ... =url-share
And
https://www.nytimes.com/2017/10/21/busi ... =url-share
And
https://www.nytimes.com/2017/11/13/your ... =url-share
Any insight would be greatly appreciated.
Thank you very much for generously sharing your time and expertise. I understand how valuable your time is, and I truly appreciate you spending it to help me. Your insights are invaluable, and I look forward to learning from them.
THANKS
Statistics: Posted by TIAA Participant — Sun Aug 18, 2024 10:56 am — Replies 0 — Views 9